The Italian pension fund for executives of commercial, haulage and transport companies, Fondo di Previdenza “Mario Negri”, has announced a tender for three investment management mandates.

The pension fund is offering mandates for three portfolios – global balanced (bonds and equities), US equities and European small and mid-cap equities – according to a notice from the fund.

The fund did not state the value of the mandates.

The deadline for tenders to be received is 8 March.

The pension fund, which divides assets strategically among various major asset classes and has a conservative investment profile, said investment managers tendering for the mandates should have assets under management of at least €5bn.

The “Mario Negri” pension fund provides details of how managers should respond using its published questionnaires.

It said that, on the basis of the replies it receives, it will then move on to pre-select managers to go through the next phase.

A second phase of the process will then consist of possible direct meetings to gain further information and clarification on proposals.

The pension fund had €2.3bn in total assets at the end of 2014.

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